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Sunday, June 04, 2017 12:42:47 PM
By Carl Swenlin | June 3, 2017
GOLD
IT Trend Model: BUY as of 5/22/2017
LT Trend Model: BUY as of 4/12/2017
Gold's upward progress has been a bit tortured, but it is currently dealing with some significant overhead resistance, which is more evident on the weekly chart. Sentiment remains persistently bearish, an issue that must change before we can have confidence that any price advance will be sustained.
The upward momentum of the weekly PMO is not robust, but it is positive nonetheless. It will be significant if gold can break above the declining tops line drawn from the 2011 all-time high. . .
http://stockcharts.com/articles/decisionpoint/2017/06/decisionpoint-weekly-wrap----participation-marginally-improved.html
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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